Jumio announces device-based digital wallet infrastructure

Jumio has announced the launch of Jumio PORT, a new secure embedded wallet infra­struc­ture designed to inte­grate with mobile OS util­i­ties such as Apple Pass­book, and the recently-launched Sam­sung Wallet.

With PORT, con­sumers can make one-click pur­chases and trans­ac­tions requiring iden­tity ver­i­fi­ca­tion, without having to down­load a stand­alone wallet app, as is the case with most dig­ital wallet offer­ings today. PORT builds upon the utility of Jumio’s Netswipe and Netverify prod­ucts, lever­aged today by leading online and mobile mer­chants to enable fric­tion­less credit card and ID scan­ning and val­i­da­tion for seven types of credit cards and IDs issued by more than 90 coun­tries. PORT will be avail­able to mer­chants in late Q1 of 2014.

“Unlike today’s dig­ital wal­lets that func­tion solely for mobile pay­ments, and require con­sumers to down­load indi­vidual mer­chant apps, PORT enables effi­cient trans­ac­tions in both dig­ital and real world envi­ron­ments, mir­roring the full func­tion­ality of a tra­di­tional wallet,” says Jumio CEO Daniel Mattes. “The cur­rent absence of a com­pre­hen­sive device-based wallet offering that is securely inte­grated into the mer­chant apps, at the point of trans­ac­tion, is what has hin­dered mobile wal­lets from reaching the crit­ical tip­ping point.”

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